Key Points
Momo Foods has raised 350 crore from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia..
This is the company's biggest fund raise and comes amid robust double-digit growth in overall food services, in addition to low price points and popularity of momos as a snack in India...
The investment will be made through both primary infusion and secondary purchase from early-stage investors, Indian Angel Network and Lighthouse Funds..
The primary fund will fuel the growth and expansion of the brand, strengthen distribution, and research and development for the FMCG arm, which sells packaged frozen ready-to-eat momos in retail stores and e-commerce platforms..
Ratings firm Icra said India's fast-foods and quick-service restaurant companies would add around 2,300 stores between FY23 and FY25, and invest an estimated 5,800 crore in capital expenditure, capitalising on increased affordability and higher consumer demand for fast foods...
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